Research On The Accounting Of The Project Company Under The BOT Model

At present,the government and social capital cooperation(PPP model)promoted in the field of infrastructure and public service is beneficial to improve the efficiency of financial,reduce the risk of government debt,improve the quantity and quality of the supply of public goods,and achieve economic benefits and social benefits.As the first and most widely applied type of PPP model,BOT mode is developing fast.BOT project is also a activity,with large scale,wide coverage,long operation cycle and numerous participants.Therefore,accounting is complex and special.Although the Ministry of Finance issued the “the explanation No.2 of accounting standards” to make provisions and guidelines for some accounting problems,but the content is not detailed,practical operation is difficult.And because the project involves a variety of situations,it needs a large number of professional judgments,making the practical accounting treatment random and chaotic,and the lack of comparability and accuracy of accounting information.From the point of view of the social capital,this article starts with the SPV as the accounting subject.On the basis of comparing the differences between the standards and analyzing the shortcomings of the accounting standards for enterprises in China,this article uses some judgment principles and methods of IFRIC 12 for reference to study the accounting theory and construct accounting system for the whole life cycle of SPV.First,this article summarizes the basic theory of accounting for SPV,including accounting objectives,accounting assumptions,as well as the confirmation and measurement of the accounting elements,and recommends that SPV use the a single intangible asset model for accounting,and then construct accounting system including establishment of SPV and financing,project construction,operation,the transfer of assets and the dissolution and liquidation of the company;finally,this article selects the case of the BOT project of the rail transit,and carries out a specific example of accounting treatment as the application of the accounting system.This article hopes to research the special subject of BOT company,and establish the accounting system,to standardize the accounting treatment of SPV,and to provide reference for the further improvement of the accounting standards.